Currency unrealised Gain loss adjustment

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Suetran
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Currency unrealised Gain loss adjustment

Hi, 

 

I'm currently using Account Right Premier, we are using multi-currency. I did currency unrealised gains/loss report last month, however, our CFO did a few changes on invoices, and affect the unrealised gains/loss. How can I record the difference or adjustment instead of reverse the old general journals. 

 

Below is an rough idea.

Before:

before.JPG

 

After:

after.JPG

Thank you very much for helping

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MYOB Moderator Steven_M
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MYOB Moderator
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MYOB Moderator

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Re: Currency unrealised Gain loss adjustment

Hi @Suetran

 

Welcome to the MYOB Community Forum, I hope you find it a wealth of knowledge

 

Generally you would record an unrealised gain or loss via a journal entry. This will go to Unrealised Currency Gain/loss account the opposite of the transaction being the Exchange account for that currency. Depending on whether the account is increasing or decreasing and the type of account would depend on what accounts are being debited and credited.


In terms of your situation where the values have been recorded, you would need to work out the difference between the gain/loss that was recorded and what is 'should' have been. Once you have worked out that difference you can create the necessary transaction to reflect that.

Attachments.PNG

Please note that I have recorded the transaction to the Currency Gain Loss account, you may have an unrealised gain and loss account that you wanted to record that transaction to.

Do let us know how you get on and if you require further assistance.

Kind regards,
Steven

MYOB Community Support

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Suetran
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Re: Currency unrealised Gain loss adjustment

Thanks so much, it's very helpful

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